Chapter 8

Question 1

In a decision, the restrictions placed on potential solutions to a problem.

Answer 1

constraints

Question 2

The facts and figures related to the problem that are divided into two main parts: secondary data and primary data.

Answer 2

data

Question 3

The extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions.

Answer 3

data mining

Question 4

Involves operating computer networks that can store and process data.

Answer 4

information technology

Question 5

The process of defining a market problem and opportunity, systematically collecting and analyzing information, and recommending actions.

Answer 5

marketing research

Question 6

Criteria or standards used in evaluating proposed solutions to the problem.

Answer 6

measure of success

Question 7

Facts and figures obtained by watching, either mechanically or in person, how people actually behave.

Answer 7

observational data

Question 8

Facts and figures that are newly collected for the project

Answer 8

primary data

Question 9

Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors.

Answer 9

questionnaire data

Question 10

The total sales of a product that firms expect to sell during a specified time under specified environmental conditions and its own marketing efforts.

Answer 10

sales forecast

Question 11

Facts and figures that have already been recorded before the project at hand.

Answer 11

secondary data